LANDBANK helps public market stores adopt QR code payments

VICTORIAS CITY, Negros Occidental – In line with advancing the shift towards cashless transactions, the Land Bank of the Philippines (LANDBANK) is helping store owners in Victorias Commercial Center to embrace the use of digital payments.

Juliet de la Torre is among the local vendors with a LANDBANK account who has adopted the use of Quick Response (QR) technology to accept payments, since the recent PalengQR Ph Plus rollout at the Victorias City Commercial Center and Public Market.

Initially hesitant due to her heavy dependence on cash, Juliet has now experienced the convenience and benefits of using digital payments to better consolidate and account for her income, especially with the multiple stores that she manages.

“I was apprehensive at first, but using digital payments has made the accounting for my business easier. It’s convenient, especially since I operate multiple stores. I can also consolidate my income seamlessly, while helping me to avoid getting scammed for accepting counterfeit bills,” shared Juliet.

The Paleng-QR Ph launch in this City was spearheaded by the City Government of Victorias, which plans to onboard over 500 market vendors and nearly 2,000 tricycle drivers onto the program by the end of the year.

“With our commitment to providing a quality life to all Victoriahanons, the Paleng-QR program doesn’t only promise convenient payment transactions but also a safe and reliable digital ecosystem for our community and economic resilience,” said Victorias City Mayor Javier Miguel L. Benitez.

Digital payments for inclusive growth

The Paleng-QR Ph Plus program is led by the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG), which aims to promote the use of QR Ph – the national standard for electronic payments through QR codes.

“LANDBANK supports the digitalization drive of the BSP and DILG in further strengthening local economic activities. Leveraging on digital payments allows for greater financial freedom and equal opportunity for all,” said LANDBANK President and CEO Lynette V. Ortiz.

Since its inception in August 2022, the Bank has actively joined the Paleng-QR Ph Plus program rollouts and facilitated the on-the-spot opening of LANDBANK accounts for market vendors, customers, and local public transport drivers nationwide.

LANDBANK aims to assist more Filipinos like Juliet and other public market vendors to adopt the use of digital payments towards building a more inclusive, cashless society.